Strategies to find fix and flip deals in a hot market

[Simon Stahl]

Hi fellow investors

I am trying to get started flipping in probably one of the hottest markets in the country. I am living in Oakland, CA and try to buy in the triangle Oakland, Sacramento, Stockton. I am looking for almost a year now and have not found anything so far that would work out. I am trying several different strategies to find properties:

Wholesalers: I have signed up with a whole bunch of them, but there is not much coming from that channel.

Direct mail: I have tried different mailing list like pre-foreclosures, non owner occupied or just everyone in a certain area. I am pretty much at zero response rate. I know persistency is the key, but I'm still not getting any responses after several mailings to the same list.

Low offers on MLS listings: In this market that seems pretty much impossible as all listings receive multiple offers.

Auctions: Well, what should I say, not enough cash for that...

I am wondering what others are doing to find deals in this market. Any advice?

Simon

[Adam London]

Hi @Simon Stahl,

I'm new to Oakland, but recently purchased condo that I renovated in lake merritt. I've been looking in oakland too and it seems you gotta go east to get good deals. But even then things are going for above asking. There was a good episode on BP this week about how to generate leads. I am half way through it but that may be helpful

 One thing I'm doing is to start networking. I'm going to a meetup on Sunday in Oakland that you should go to if you are free. https://www.meetup.com/REmeetup/events/240590210/?...

I've been looking in Stockton too, just unfamiliar with the market. Also Sac seems to have some good deals.